News & Notices | National Futures Association

News Releases

2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | Show fewer years

For Immediate Release
November 02, 2015

For more information contact:
Kristen Scaletta (312) 781-7860, kscaletta@nfa.futures.org
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org

NFA bars Stamford, Conn. commodity pool operator and commodity trading advisor Nord Capital Advisors from membership

November 2, Chicago—National Futures Association (NFA) has permanently barred Nord Capital Advisors LLC (Nord Capital), an NFA Member commodity pool operator and commodity trading advisor located in Stamford, Conn. with a branch office in Moscow, Russia, and Yakov Shlyapochnik, an associated person and principal of Nord Capital, from membership. In addition, Nord Capital and Shlyapochnik are both barred from acting as principals of an NFA Member and must pay a $300,000 fine.

The Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint authorized by the BCC and a settlement offer submitted by Nord Capital and Shlyapochnik.

The Complaint charged Nord Capital and Shlyapochnik with a failure to cooperate by refusing to provide NFA with books and records as requested.

Nord Capital's and Shlyapochnik's willful refusal to produce the requested records prevented NFA from completing its examination. Such conduct on the part of Nord Capital and Shlyapochnik strikes at the heart of NFA's examination function, which depends upon the full cooperation of NFA Members and Associates in order to function effectively.

Nord Capital and Shlyapochnik were the subjects of an NFA enforcement action in July 2014 prohibiting them from soliciting or accepting funds, or placing trades and disbursing or transferring funds from customer accounts.

The complete text of the Complaint and Decision can be viewed on NFA's website.

Subscribe to NFA Email Communications